Featured Articles Archive - Page 457

Regulated online gambling industry would employ thousands and raise billions in U.S.

Licensing and regulating the online gambling industry in the United States would create 32,000 jobs and generate $57.5 billion in tax revenues over the next five years, according to a study released by H2 Gambling Capital Tuesday. The study bolsters the case of Rep...read more

MGM Mirage asks shareholders for name change

LAS VEGAS, Nevada -- MGM Mirage is asking shareholders to allow the company to change its name to MGM Resorts International.But company officials were quick to point out today that the proposed name change does not mean The Mirage is on the market.The Strip casino giant told shareholders the proposed name reflects the company's current vision and future growth...read more

Nevada gaming commissioner won't return to panel

LAS VEGAS, Nevada -- Nevada Gaming Commissioner Radha Chanderraj did not seek reappointment to the five-member, part-time regulatory panel, and Gov. Jim Gibbons will select a successor when her four-year term expires at the end of the month. Chanderraj, a Las Vegas attorney and certified public accountant, is the longest-serving member of the Gaming Commission...read more

Is Steve Wynn casino shopping in St. Louis?

ST. LOUIS, Missouri -- A one-paragraph blog item on the website of the St. Louis Post-Dispatch last week detailed a visit to Pinnacle Entertainment's two properties in the market by Wynn Resorts Chairman Steve Wynn.Wynn and an entourage toured the downtown Lumiere Place and the recently opened River City in suburban St...read more

Group plans bid for Station Casinos

LAS VEGAS, Nevada -- Station Casinos' owners and some of its lenders plan to submit a $772 million opening bid to acquire a majority of the gaming company's assets in bankruptcy court through a newly formed company, according to a statement issued Monday by the gaming company. The proposal, along with a restructuring plan submitted last month, both of which require bankruptcy court approval, would have the company emerging intact from bankruptcy by the end of the year. Station Casinos executives have repeatedly said since filing for Chapter 11 in July that one of its goals was to keep the company whole. In a court filing Monday, Station Casinos said it has reached an agreement with the committee representing 60 percent of the company's OpCo secured debt to make a stalking-horse bid for several properties, including Santa Fe Station, Texas Station, both the Fiestas, and Native American projects. Locals gaming rival Boyd Gaming Corp., which offered $950 million for 14 casinos last year, and then $2.45 billion for the whole company in December, said Monday it is still interested in acquiring some or all of Station's assets. "The press release issued today regarding the OpCo assets contained very little in the way of detail about Station's efforts to reorganize its debt, a process that has now been going on for more than a year," Boyd spokesman Rob Meyne said...read more

Vegas makes room for stranded visitors

LAS VEGAS, Nevada -- The Strip picked up a few extra visitors over the weekend, and it had nothing to do with rodeo fans and country western music aficionados.Trans-Atlantic flights canceled because of a massive volcanic ash cloud have paralyzed air travel throughout Europe.At McCarran International Airport, daily round-trip flights by British Airways that connect Las Vegas with London's Heathrow Airport have been grounded since Wednesday, stranding Las Vegas tourists hoping to return to the United Kingdom...read more

Privé, Living Room close at Planet Hollywood

LAS VEGAS, Nevada -- The troubled and bankrupt Privé Nightclub and its adjacent Living Room ultralounge inside Planet Hollywood Resort have closed, most likely for good, sources said Friday.The nightclubs, which had been operating under 30-day temporary licenses from Clark County, quietly ceased operations Monday night.Last month, Harrah's Entertainment, which assumed ownership of Planet Hollywood Resort in February, told the clubs' Miami-based owners to either pay past-due rent and expenses or leave the Strip hotel-casino.The owners, Opium Group, ran afoul of state gaming regulators and Clark County authorities last year over the operation of the nightclubs...read more

Top-10 non-Hold'em tournaments Vin wants to try

At a recent home game, I was introduced to Baduci, a split-pot five-card triple draw game where the best 2-7 hand wins half the pot, and the best Badugi hand wins the other half. An instant hit, the game was quickly bastardized to create "Stugi" (7-Card Stud with half the pot going to the best Badugi hand) and "Omadugi" (Omaha High with half the pot going to the best Badugi hand)...read more

Australian man arrested for processing online gambling payments in the U.S.

A 27-year old Australian man was arrested Friday in Las Vegas on charges that he helped offshore Internet gambling companies process online gambling transactions worth more than $543 million for American gamblers. Daniel Tzvetkoff, who was arrested in Las Vegas while attending a conference, has been charged with illegal gambling conspiracy, bank fraud conspiracy, money laundering conspiracy and money laundering...read more

How to make a million at the casino starting with a dollar

Anyone can make a million at a casino starting with a dollar. It takes lots of luck, of course. And, depending on the game and the betting strategy used, will power and time may also be necessary. Consider three techniques. (1) A single $1 bet on a jackpot that either wins and pays a million, or loses...read more